For each of the following items, indicate the type of accounting change. (a1) (a) Change from straight-line method of depreciation to sum-of-the-years'-digits (b) Change from the cash basis to accrual basis of accounting Change from FIFO to LIFO method for inventory valuation purposes (retrospective application impractical) (c) Change from presentation of statements of individual companies to presentation (d) of consolidated statements (e) Change due to failure to record depreciation in a previous period (f) Change in the realizability of certain receivables (g) Change from LIFO to FIFO method for inventory valuation purposes > > > > >
For each of the following items, indicate the type of accounting change. (a1) (a) Change from straight-line method of depreciation to sum-of-the-years'-digits (b) Change from the cash basis to accrual basis of accounting Change from FIFO to LIFO method for inventory valuation purposes (retrospective application impractical) (c) Change from presentation of statements of individual companies to presentation (d) of consolidated statements (e) Change due to failure to record depreciation in a previous period (f) Change in the realizability of certain receivables (g) Change from LIFO to FIFO method for inventory valuation purposes > > > > >
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter22: Accounting For Changes And Errors.
Section: Chapter Questions
Problem 2E
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Transcribed Image Text:For each of the following items, indicate the type of accounting change.
(a1)
(a)
Change from straight-line method of depreciation to sum-of-the-years'-digits
(b)
Change from the cash basis to accrual basis of accounting
Change from FIFO to LIFO method for inventory valuation purposes (retrospective
application impractical)
(c)
Change from presentation of statements of individual companies to presentation
(d)
of consolidated statements
(e)
Change due to failure to record depreciation in a previous period
(f)
Change in the realizability of certain receivables
(g)
Change from LIFO to FIFO method for inventory valuation purposes
>
>
>
>
>
>
>
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